FYI: Actinver Bank. Counterintuitive Policy

We have had an account (actually several) at Actinver (formerly Lloyd) in Puerto Vallarta for at least 12 years.

Toward the latter part of February, we deposited a Canadian cheque from an insurance company in one of our accounts, fully understanding that we wouldnīt have the access to that money until the cheque had cleared.

What we didnīt know, and what we find shocking is that they froze ALL of the money we had with them pending the clearance of that cheque, In all of our accounts. Money that has been there for many many years. Our account manager phoned Guadalajara but they could do nothing until 6 weeks from the date the cheque was deposited. They said the bank needed ALL our money as security.

Of course, none of this was explained when we deposited the cheque (in English or Spanish).

To complete the picture, for anyone who is interested, Actinver said that if we sent down a wire transfer from Canada, it would not be frozen. However, after this, we donīt believe anything they say. If necessary we will wire transfer money to our acccount at HSBC until Actinver "graciously" allows us access to the money they have had to use all these years.

Re: [careyeroslib] FYI: Actinver Bank. Counterintuitive Policy

That policy isn't just "counterintuitive", it's obscene. I think I'd be pissed off enough to insist that my account manager show me exactly where in my acount agreement, in writing, that policy is spelled out.

Re: [tashby] FYI: Actinver Bank. Counterintuitive Policy

Actinver/Lloyd has pulled some amazing stunts over the last few years. The one I'm familiar with is that they were withholding $ and paying taxes to Hacienda on accounts held by FM2/3 holders. Foreigner owe no such taxes. When called to their attention the refunded only the last few months of withholding claiming they couldn't get the $ back from Hacienda. It cost them several customers here in Ajijic.

Re: [DavidHF] FYI: Actinver Bank. Counterintuitive Policy

Well, I guess I'd better have a chat with the folks at Actinver/Lloyd. They've been withholding tax on our account since....well, a long time -- several years before the merger between Actinver and Lloyd. So, in fact if you have an FM-3 (or FM-2), they should NOT be withholding? Thanks for the info!